Impact Minerals to acquire landholding near Broken | Mining News

Impact Minerals to acquire landholding near Broken – Mining News

Impact Minerals has introduced the acquisition of a vital 675km² landholding adjoining to its current place near the Broken Hill silver-lead-zinc deposit in New South Wales, Australia.

This acquisition includes a deal with New Frontier Metals (NFM) to acquire its subsidiary BHA No. 1, which owns the Broken Hill East Project, comprising tenements EL8434 and EL8435.

In exchange, NFM will obtain A$275,000 ($173,370) value of Impact shares primarily based on a 14-day volume-weighted average price as of 7 March 2025, and will probably be subject to a six-month voluntary escrow.

The completion of this transaction is predicted to happen this week.

This acquisition builds on Impact’s earlier analysis beneath the BHP Xplor programme, solidifying its place as a main ground-holder south of Broken Hill.

Research funded by the Xplor programme included mapping and sampling 655 rock chip samples throughout 99 mafic sills at Broken Hill, specializing in copper, lead, zinc and iron.

Additionally, detailed magnetic interpretation of the south Broken Hill space and geophysical case research over the Dora East discovery had been performed.

With 100% possession of tenements now overlaying 1,770km² and more than 100km of strike, Impact is well-positioned for future exploration.

The company is at present targeted on finishing the pre-feasibility examine for the Lake Hope High Purity Alumina project in Western Australia.

However, a portion of the funds from the present rights concern introduced last month will probably be directed in the direction of developing key copper targets for drilling, which incorporates conducting ground geophysics over a newly recognized sub-basin.

The Broken Hill area is witnessing renewed exploration curiosity. Recent exercise consists of Broken Hill Mines’ buy of the Rasp Mine and Pinnacles deposit, and South32’s three way partnership north of the Broken Hill mine.

This curiosity is pushed by rising silver costs and long-term demand for zinc and lead.

In May 2024, German investor Susanne Bunnenberg elevated her stake in Impact Minerals by buying an extra 450.2 million shares, raising her curiosity from 15.83% to 16.85%.

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